Resale and Repurchase Agreements

12 Months Ended

Dec. 31, 2013

Resale and Repurchase Agreements

Resale and Repurchase Agreements

NOTE 5. Resale and Repurchase Agreements

        There were no outstanding resale and repurchase agreements at December 31, 2013. At December 31, 2012, the fair value of financial instruments held as collateral by the Company that it was permitted to deliver or repledge in connection with resale agreements was approximately $137.9 million, substantially all of which was repledged in the form of repurchase agreements at December 31, 2012.

        The following table presents the gross and net information about the Company's resale and repurchase agreements that are offset in the financial statements at December 31:

		2013						2012
(In thousands of dollars)	Collateral Type	Gross Amounts		Netting		Net Amounts		Gross Amounts		Netting			Net Amounts
Asset / Liability
Resale agreements	U.S. government and federal agency obligations	$	—	$	—	$	—	$	238,014	$	(238,014	)	$	—
Repurchase agreements	U.S. government and federal agency obligations	$	—	$	—	$	—	$	397,400	$	(238,014	)	$	159,386

        The following tables provide detail on the maturity composition of the outstanding repurchase agreements at December 31, 2012 (there were no outstanding repurchase agreements at December 31, 2013):

	December 31, 2012
(In thousands of dollars)	Overnight		<30 days		30-90 days		>90 days		On Demand		Total, net
Collateral Type
U.S. government and federal agency obligations	$	106,991	$	50,052	$	—	$	—	$	2,343	$	159,386